The current inventory management system at Exclusive Home Fashions shows potential for
improvements with the use of modern inventory control techniques. The aim of the project is
to use a modern inventory modelling approach to determine an improved balance between
under- and overstocking costs as well as shortage costs. This project focus a Probabilistic
Inventory Modelling approach to estimate the economic order quantities, reorder points and
safety stock levels. By balancing the economic order quantities, reorder points and safety
stock levels to obtain an improved inventory management policy, Exclusive Home Fashions
will not only benefit financially but also have better control over their inventory.
Thesis (B Eng. (Industrial and Systems Engineering))--University of Pretoria, 2009.